SBA Communications (NASDAQ:SBAC) Director Sells 300 Shares of Stock

Key Points

• Director George Krouse, Jr. sold 300 SBA Communications shares at an average price of $182.67, generating $54,801 and reducing his direct holdings by 3.4% to 8,512 shares.
• SBA Communications reported quarterly EPS of $1.87 and revenue of $715.27 million, both slightly above analyst expectations; revenue increased 2.3% year over year.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 2.7% yield. Analysts’ average rating is “Hold,” with an average price target of $228.12.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) Director George Krouse, Jr. sold 300 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the sale, the director directly owned 8,512 shares of the company's stock, valued at $1,554,887.04. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

SBA Communications Stock Up 0.6%

SBA Communications stock traded up $1.03 during trading hours on Wednesday, hitting $182.43. 479,915 shares of the company traded hands, compared to its average volume of 1,058,620. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $225.33. The firm has a market cap of $19.35 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.85 and a beta of 0.99. The firm's 50-day simple moving average is $184.14 and its two-hundred day simple moving average is $194.21.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The company had revenue of $715.27 million during the quarter, compared to analyst estimates of $706.01 million. During the same period in the prior year, the business posted $3.17 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that SBA Communications Corporation will post 11.41 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, August 20th. SBA Communications's dividend payout ratio (DPR) is presently 53.88%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SBAC shares. Royal Bank Of Canada cut their price objective on SBA Communications from $245.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, July 10th. Wolfe Research upgraded shares of SBA Communications from a "hold" rating to an "outperform" rating in a research report on Tuesday, August 4th. Weiss Ratings restated a "hold (c)" rating on shares of SBA Communications in a research report on Monday, July 20th. Barclays lifted their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company raised shares of SBA Communications from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $220.00 to $210.00 in a research note on Friday, July 17th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $228.12.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds and other institutional investors have recently modified their holdings of SBAC. DV Equities LLC acquired a new stake in SBA Communications during the 4th quarter worth about $29,000. Fulcrum Asset Management LLP purchased a new position in shares of SBA Communications in the third quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its holdings in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after acquiring an additional 84 shares during the period. CX Institutional raised its holdings in shares of SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company's stock valued at $37,000 after acquiring an additional 65 shares during the period. Finally, High Point Wealth Management LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 97.35% of the company's stock.

About SBA Communications

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.

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